Macquarie leads in broker usage, turnaround time, and broker and credit assessor experience
Lenders need to improve ease of use, brokers say
While large ADIs showed improving turnarounds in October, ease of use emerged as a notable bottleneck throughout most lenders’ loan application processes.
Large banks maintain fast turnarounds despite higher broker flows
Brokers are seeing turnarounds at the most commonly used banks continue to improve, despite third-party usage rates surging for these banks in October.
Broker flows surge for non-majors, CBA still takes the lead
According to the most recent Broker Pulse survey results conducted between 1-10 November 2021 and participated by 252 brokers, third-party channel usage rates for all non-majors is currently at their highest since May 2021. Large banks are also showing record processing speeds relative to year-long performance.
ING, Macquarie, lead loan turnarounds
Non-majors Macquarie and ING led the pack in arriving at loan decisions in September.
BDM ratings at record-high
According to the latest Broker Pulse survey conducted last 1-10 October 2021, BDMs received a record-smashing average score of 56 points for the month of September, an all-time high since the inception of Broker Pulse.
Major banks continue to receive largest share of broker applications
A total of 232 brokers participated in the Broker Pulse Survey conducted between 1-10 October 2021. According to the results, majors continued to dominate broker flows in September, with ANZ and CBA merely switching places in the top 2, and NAB ranking 5th.
ANZ, CBA dominate broker flows
Broker Pulse draws on peer-to-peer knowledge sharing to provide up-to-date analyses of lender performance in the third-party channel. Beginning September, this dynamic knowledge base now captures scenario-based processing speeds to help brokers make decisions that are tailor-fit for their clients.
Majors sustain improving turnarounds; small and non-ADIs take a dip
As all four majors sustain recent improvements in processing speeds, average turnarounds for large non-ADIs and small ADIs take a dip in August 2021.
Highlighting the lenders that are actively seeking broker feedback
On its 2nd anniversary, Broker Pulse shines a light on the lenders supporting the industry-wide initiative for transparency and communication between brokers and lenders.
Broker Pulse deepens its data capture for brokers
We’ve learnt a lot this year, and to mark our 2nd anniversary, we are revamping our industry-wide initiative to increase transparency in the third-party lending channel.
Large lenders show the most improved turnarounds
Brokers are experiencing a continued decrease in time to initial credit decisions, with large lenders showing the most improvements.
Lenders start 3rd quarter with improved performance
Lenders mark the beginning of the third quarter with steady improvements in turnarounds and personnel performance.
Here are the lenders listening to your feedback.
These are the lenders listening to you and supporting the transparency between brokers and lenders. Each month, your feedback and the insights you contribute to are passed on, and these lenders are making strides in the industry to make your lives and your clients’ lives easier.
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